TRAVERSE CITY, Mich.,
Dec. 11, 2023 /PRNewswire/ --
Hagerty, Inc., (NYSE: HGTY), an automotive enthusiast brand and
leading specialty vehicle insurance provider, announced today its
2024 U.S. Bull Market list, an annual selection of wide-ranging
enthusiast vehicles best poised to increase in value over the next
year. Now in its 7th year, the list is compiled by the brand's
automotive intelligence team using a suite of data from public and
private sales, insurance valuations and historic trends. For more
details on Hagerty Bull Market and the cars included, click
here.
"Bull Market is meant to empower enthusiasts to buy or sell cars
with confidence in order to maximize the joy of ownership," said
Larry Webster, Hagerty Senior Vice President of Media and
Editorial. "It serves as the ultimate compass, steering enthusiasts
towards discovering, acquiring and enjoying their dream vehicles
without all the stress associated with depreciation."
"We've learned a few things from seven years of publishing this
list," said Brian Rabold, Vice
President of Automotive Intelligence. "No matter which direction
the market is headed, there are always cars that move ahead. These
opportunities exist across decades, price bands, and genres, but
ultimately, we always encourage people to buy what they love."
The 2024 U.S. Bull Market list (excellent condition price
range):
2008 - 2013 BMW M3 ($51,600 -
$65,800)
The 2008–2013 BMW M3,
particularly the E92 model, encapsulates the essence of modern
classics that captivates collectors. Powered by a 4.0-liter V-8, a
departure from subsequent six-cylinder turbocharged versions, the
E92 offers a visceral and immediate driving experience, enhanced by
its technological prowess, including a carbon-fiber roof and
adjustable rear differential. With an average value up 34%,
enthusiasts priced out of old M3s are flocking to this
generation.
1965 - 1970 Chevrolet Impala SS ($30,100 - $44,500)
The Chevrolet Impala SS, an
enduring symbol of American automotive heritage since its 1958
debut, became iconic with the introduction of the SS (Super Sport)
option in 1961. The fourth-generation Impala, starting in 1965, set
industry sales records, embodying the spirit of American muscle
cars. The '69 Impala SS, equipped with potent V-8 engines like the
LS1 427, showcased all-American power and design, making it a
sought-after classic that captures the essence of timeless American
motoring.
1946 - 1950 Chrysler Town & Country ($81,400 - $144,000)
Chrysler's post-war pivot led to
the creation of the Town & Country, initially known for its
woody wagon design inspired by the 1941 model. Its limited
production and the shift from structural wood framing to decorative
elements helped the Town & Country gain popularity as a
luxurious status symbol embraced by the affluent on both the East
and West Coasts. Today, vintage models, like those from 1947, offer
a unique blend of 1940s aesthetics and driving comfort, and are
proving to pique the interest of the next generation of
collectors.
2011 - 2016 Ferrari FF ($143,000 - $177,000)
The Ferrari FF, introduced a
decade ago, defied norms with its four-wheel-drive, four-seat
layout and lack of a clutch pedal. Its shooting brake design caters
to enthusiasts valuing utility in their exotic cars. Despite
current depreciation, the FF's V-12 power, dual-clutch
transmission, and Ferrari mystique make it a promising investment,
particularly for younger collectors who appreciate its blend of
practicality and performance.
1964 - 1966 Ford Thunderbird ($41,300 - $56,400)
Reminiscent of the jet age, the
Ford Thunderbird offers a soft and comfortable ride and is
increasingly generating interest from Gen X and younger
generations. It's likely that many of the younger Thunderbird
seekers have been priced out of Lincoln Continentals.
2000 - 2005 Jaguar XKR ($26,700
- $38,900)
Built under Ford ownership, the 2000 XKR is a supercharged variant
of the original 1997 Jaguar XK8 challenging competitors like
Mercedes-Benz and Aston Martin. While trailing the Aston Martin
DB7, the XKR is gaining popularity with buyers under 40. Despite
maintenance considerations, its reliability and potent performance
make it a compelling choice, combining power and value in the
luxury car market.
1981 - 1986 Jeep CJ-8 Scrambler ($41,400 - $52,600)
The CJ-8 Jeep Scrambler, one
example once owned by Ronald Reagan,
is a rising classic in the vintage SUV market due to its unique
history, rarity and off-road appeal. Appreciating faster than the
iconic CJ-7, the Scrambler attracts a lot of interest from Gen X
and younger enthusiasts.
1989 Lamborghini Countach 25th Anniversary ($612,500 - $770,000)
The Lamborghini Countach stands
out as a timeless icon associated with the bold aesthetics of the
1980s. Thanks to its limited production and historical
significance, owning one represents a unique investment
opportunity. The rarity of well-preserved models, combined with the
car's enduring allure, celebrity, and increasing market demand,
have made this a popular choice for millennial collectors.
1997 - 1999 Mitsubishi Pajero Evolution ($50,000 - $70,000)
The Mitsubishi Pajero Evolution,
born out of the brand's rally dominance in the Paris-Dakar Rally,
offers a unique and limited-run, off-road rally experience. As a
collectible, particularly in Japan
and now available in the U.S. under the 25-year import exemption,
the Pajero Evolution's distinctive design and heritage make it a
sought-after gem for enthusiasts familiar with Japanese automotive
esoterica.
1997 - 2002 Plymouth Prowler ($34,800 - $45,500)
One of the strangest fun cars
ever to make it to the showroom floor, the Plymouth Prowler is a
love letter to the hot-rod scene. Perhaps surprisingly, members of
Gen X (born between 1965 and 1980) are now trickling into the
Prowler, slowly supplanting the boomers who were the initial target
when the car was conceived.
About Hagerty, Inc. (NYSE: HGTY)
Hagerty is an
automotive enthusiast brand committed to saving driving and fueling
car culture for future generations. The company is a leading
provider of specialty vehicle insurance, expert car valuation data
and insights, live and digital car auction services, immersive
events and automotive entertainment custom made for the 67 million
Americans who self-describe as car enthusiasts. Hagerty also
operates in Canada and the U.K.
and is home to Hagerty Drivers Club, a community of over 800,000
who can't get enough of cars. As a purpose-driven
organization, Hagerty Impact aims to be a catalyst for
positive change across the issues that matter most to our teams,
our members, the broader automotive community, our shareholders and
the planet at large. For more information, please
visit http://www.hagerty.com or connect with us on Facebook,
Instagram, Twitter and LinkedIn.
More information can be found at newsroom.hagerty.com.
Forward Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include all statements that are not historical facts.
These forward-looking statements reflect Hagerty's current
expectations and projections with respect to its expected future
business and financial performance, including, among other things:
(i) expected operating results, such as revenue growth and
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ability to: (i) compete effectively within its industry and attract
and retain members; (ii) maintain key strategic relationships with
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Understanding the information contained in these filings is
important in order to fully understand Hagerty's reported
financial results and our business outlook for future periods.
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SOURCE Hagerty